Wednesday, April 18, 2018

Suncor Energy Inc. - SU.t

Suncor Energy Inc. - SU.t produces oil, natural gas, wind-generated electricity and ethanol. Oil sands operations are the focus of Suncor’s business.

The company operates a network of 1,500 Petro-Canada retail and wholesale outlets across Canada and a network of retail sites under the Shell and Phillips 66 brands in Colorado.
On March 14, 2018 the company released News

Suncor today announced that the Syncrude maintenance turnaround originally scheduled to begin in April, will be moved up by approximately one month.

On March 15, Syncrude plans to begin an eight-week turnaround, which was originally scheduled to begin in April. Advancing the turnaround will permit Syncrude to address an unrelated issue which has been constraining capacity on a line that feeds bitumen from the mine to the upgrader. Executing the turnaround and resolving the line issue at the same time will make more efficient use of resources and minimize the overall impact on production.

With the change in turnaround timing, Syncrude production for the first quarter is expected to be reduced to approximately 140,000 barrels of oil per day (bbls/d), net to Suncor. However, Syncrude’s forecasted production for the full year remains within the annual guidance range.